16350 Innovation LNFORT MYERS, FL 33913
Investment Opportunity: Value-Add Flex Space in Fort Myers FL 16350 Innovation Lane Fort Myers FL 33913 This 20,666 square foot flex-style warehouse offers a unique value-add investment opportunity. Currently configured for eight individual units, only 50% of the space is leased, providing a chance to increase income through additional leasing. Property Details: • Total Size: 20,666 square feet • Current Occupancy: 50% leased • Lease Terms: 10,333 square feet leased at $13,241.66 per month ($158,899.92 annually) • Vacant Space: 10,333 square feet, divisible into four units of 2,583 square feet each • Potential Rental Income: Lease vacant units at $19.00 per square foot for a total of $196,308 annually. Financial Projections: • Base Price: $5,300,000 ($256.46 PSF) • Improvement Costs (for four separate units): $300,000 • Total Investment: $5,600,000 • Projected Total Income: $355,207 • Cap Rate: 6.7% • Estimated Gross Income in 2027: $400,000 • Estimated Cap Rate (post-improvements): 7.45%
| yesterday | Listing updated with changes from the MLS® | |
| yesterday | Price changed to $5,299,950 | |
| 2 months ago | Listing first seen on site |
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